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Magnum Realty Services

Mark E. Cestaric
Real Estate Broker
714-606-9491
MarkeCestaric@gmail.com
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DRE#: 009883926

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Listing 7 out of 20
$2,350,000 Pending

4228 Hilaria Way
Newport Beach, CA 92663

4 units | Multi Family Home
6534 sq ft lot - MLS# PW19173746
Property Photo
1/11

Description

We are pleased to present a charming 4-unit multi-family property located in Newport Beach, CA. The newly renovated subject property contains three 2-bedroom / 2-bathroom units, and one 2-bedroom / 1.5-bathroom unit and consists of 4,195 rentable square feet spread throughout a 5,800 square foot lot. This property is stabilized with solid rents but has upside with top of the line furnishes. Owners enjoy the high demand for rentals in a coastal city of Southern California, while tenants enjoy living a short distance to local beaches, shopping, restaurants and nightlife in Newport Beach, Lido Isle, and Downtown Costa Mesa. Newport Beach is a highly sought after rental market. With a limited rental stock and great demographics. The average household income in Newport Beach is currently $119,379 and even with an average income roughly 40% higher than the Orange County average, renting is still more affordable than buying a home in Newport Beach where the median property value is $1.7 million.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • Zip Code: 92663
  • Year Built: 1973
  • Stories: Two
  • Units: 4 units
  • # of Parking Spaces: 4.00
  • Lot Size: 6534 sq ft lot
  • Area: 699 - Not Defined
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 4305.00
  • Building Area Units: Square Feet
  • Common Walls: 1 Common Wall
  • Community Features: Curbs, Sidewalks
  • Country: US
  • Directions: Flagship Rd & Dana Rd
  • Electric Expense: 396.25
  • Fuel Expense: 396.25
  • Garage Spaces: 4.00
  • Gross Income: 116284.00
  • Gross Scheduled Income: 119880.00
  • Insurance Expense: 2752.00
  • Laundry Features: Inside
  • Laundry YN: Yes
  • Listing Agent License: 01158184
  • Listing Office License: 00530854
  • Lot Features: 2-5 Units/Acre
  • Lot Size Area: 6534.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 3295.00
  • Net Operating Income: 75363.00
  • New Taxes Expense: 27025.00
  • Number Of Buildings: 1
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Operating Expense: 40291.00
  • Other Expense: 450.00
  • Other Expense Description: Misc/Res
  • Parking Features: Garage
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Sewer: Septic Type Unknown, Unknown
  • Stories Total: 2
  • Total Actual Rent: 9990.00
  • Total Expenses: 40921.00
  • Trash Expense: 396.25
  • Water Sewer Expense: 396.25
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Marcus & Millichap, Kevin King

Mark E. Cestaric
Costa Mesa, CA 92626
Phone: 714-606-9491
Email: markecestaric@gmail.com

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